"Dreams can often become challenging, but challenges are what we live for".  This quote by Travis White seems to go with the cornerstone of Rakee Nagpal's philosophy. Founder & MD of Dynamic Vertical Solutions, Rakhi is one of the most promising entrepreneurs of her genre. Coming from a financial background DVS was the first company she set up on her own. Spanning across three continents, Dynamic Vericas Solutions (DVS), deals in end-to-end integrated and adaptable business management applications providing comprehensive solutions to organizations of all sizes across industry sectors. With less than three years of its inception, it has already grabbed enough eyeballs and  has a business partner to the likes of W (women’s wear), Lilliput, Disney artists stores, Levi’s, adidas, Pizza Hut, Costa Coffee, US Pizzas, MANGO, Debenhams, NEXT, and more. In a close encounter with Smart Business, she opened her heart out on the challenges, industry issues and future plans of DVS. Excerpts.

Why entrepreneurship? Do you think that it was the right decision to set up DVS?
As an entrepreneur, I have been blessed with the opportunity to release my true potential. Freeing yourself from set processes and rigidity which stifle your growth rather than enhance it, is a truly liberating and fulfilling step. When I took it, it allowed me to utilise my strength, capacity and vision to create something in the Indian, and then International Market, where I saw a genuine market need. It was the right decision for me at that time and the right decision for me now.

Did you face any hurdles in setting up the company and how did you surpass them?
Coming from a financial background this was the first company which I set up on my own. I started off with a vision having identified what I believed was a strong need in the Indian market. I therefore put a lot of pressure on myself to ensure the business moved in the right direction. The company is privately funded and private investment means self created pressure to surpass delivery expectations. However this was more of a fundamental need and rather than viewing it as a hurdle, I took it as an opportunity to illustrate that if you know who you are, have faith in your capabilities and understand your market in the same way that you understand yourself, you can surpass even your own expectations.

Getting the right people on board who shared my understanding, vision and direction was a challenge. However god blessed me with visionaries in their own right who possess immense direction and determination. The whole process was a big eye opener for me and I have thoroughly enjoyed this journey.

Another challenge was that in its infancy, DVS had to compete with some of the most renowned technology players in the market – the big boys in the IT ERP sphere. We had to build a brand for DVS in a market where the established companies had many customers having been in the industry for many years. Nevertheless, we took this as an opportunity to dedicate ourselves, and have grown out of infancy with this ethos and drive. Today this is the very quality that has set us apart from the rest of the players. We are considered technology leaders in the retail and hospitality spheres.  

We work with some of the biggest and smallest businesses who see the value in our proposition. We take on our customers business objectives in driving our customer relationships. We believe in simplicity, an integrated business approach, and empowerment tools for organisations and individuals to release their full potential. This is our motto. 

What were the major IT challenges you faced while setting up DVS?
When setting up DVS in 2006 I understood what my business requirements were and how I wanted those to be mapped, technology formed an integral part of my business operations from the outset. Rather than facing any IT challenges, the early adoption of technology within my business allowed me to streamline processes, increase efficiency and transparency, replicate the success at the head office in India to DVS branch offices in the Middle East and United States, thus scaling up business from one country to across three continents, all the while being supported at every step through the use of technology.

How does IT contributes to the retail sector? How retailers can benefit by using IT solutions in recessionary times?
In any industry, there are a number of set processes and fundamental criteria which a business needs to map through IT to ensure it upholds streamlined processes and growth within its operations. Such functions would include financials, sales and receivables, inventory and supply chain management, which are generic requirements for businesses in any industry.

These requirements are taken care of through the use of an Enterprise Resource Planning (ERP) system, such as Microsoft Dynamics NAV/AX. Then, in addition to these horizontal requirements, each industry will have specific, vertical processes that need to be catered to. In organised retail, store replenishment systems, budgeting and merchandising tools, loyalty schemes and inter-store transfers, will for example also need to be mapped at each store and head office. The right technology will integrate these vertical specific requirements with your horizontal platform, so that a retailer is running their business on a single, seamless, end-to-end, integrated business application.

Technology must also be user friendly for management and staff given the current attrition rates in the retail market. The international and local players are competing very well and the current projected growth of the retail sector is being put anywhere between 30-40%. This means that retailers need to ensure that every area of their business, from instant business intelligence reporting/analysis, to flexible promotional offerings, to first class customer relationship management, are functions successfully being driven through technology. The right technology will be the backbone of a retailers business.

Within retail you must also understand customer buying behaviour and taste patterns with such specificity that it enables management to create promotions at the right time and the right place for the right people. Right, simple, integrated IT can facilitate in making an organisation so efficient that they can focus on the business of retail as opposed to obstacles that they may face with complex IT systems.

What are the major R&D activities you are working on?
We are a business that supports the empowerment of individuals and organisations through technology, tools and training. Our R&D is focused on each of these facets at a macro level going right down to specific details within each of the parts. We are focusing our R&D predominantly on understanding what the market needs are in each of these spheres, and giving innovative technologies and creating tools applicable for people to release their true potential, hence releasing the full potential of their organisation.


What are the new solutions you are bringing in for your customers?
During this financial year, we will continue our focus within the niche verticals of retail and hospitality. We will be going to market for a new line of training that focuses on empowering the individual, as collectively empowered individuals make an empowered organisation. We will be taking a holistic view to empowering an organisation.  

The new solutions we are bringing in for our customers consist of a Property Management Solution for Mall, Housing Association and Business Centre Management. We are also in the process of putting a plan together for our Single Store Solution. All of our existing and upcoming solutions are integrated with one another providing our customers with a unique, end-to-end total business application on a single platform.

How about going SAARC? Is there any acquisition on cards?
We are in the process of replicating our success in India and MEA into other countries within South Asia, such as Sri Lanka, Bangladesh and Nepal, continuing our focus on the retail and hospitality industries in these countries. Regarding any acquisition, there is none on the cards as of now but things change every day.

What is your advice for the budding entrepreneurs?
If you are a new entrepreneur starting a new business, my advice to you would be to believe in yourself. Ensure you have the right support around you. Do your homework for whatever it is you are deciding to venture into. Take your time and don’t rush things for the sake of doing something. Everything will happen at the right time and place. Passion speaks for itself.

Jatinder Singh

jatinder.singh@9dot9.in